LOCAL politicians have expressed their sadness following news Chepstow-based steel company Mabey Bridge will close, resulting in 125 job losses.

Monmouth MP David Davies said the closure would have an impact on the local economy, while AM Nick Ramsay said he was "very concerned and saddened" by the news.

A total of 125 jobs are set to go at the company, which built bridges and wind turbines and helped construct the original Severn Bridge. It only moved to its current site next to the M4 a year ago in an expansion.

But the renewbales factory in Chepstow had been under threat since late last year, and it will now be axed after attempts to find a new buyer failed.

Mr Davies MP said: “I was very, very sad to hear the news and I’ve spoken to the chief executive and offered to help in any way I can.

“He told me there is a possibility some people will find jobs elsewhere but the reality ios there will be redundancies and that’s clearly sad news.

“The direct impact is going to be quite big because it employs over a hundred people so it will have a wider impact on the Chepstow economy as well.”

Mr Ramsay AM said: "Mabey Bridge is a longstanding local firm. I visited the Renewables section of the business last year and was impressed by the quality of the product and the dedication of staff. “The workforce are highly skilled and have been enabling the company to diversify into next generation pylon technology.

"It's very disappointing that the management team have been unable to find a buyer. What's important now is that the Welsh Government work closely with the firm to try and cushion this blow and to support new job opportunities for the skilled workforce who have been working on the renewables business. Wales can't afford to lose this type of industry."

The bridge building firm said it had contact with more than 50 companies both home and abroad, including extensive discussions with one company for the last three months. But late last week talks broke down.

Monmouthshire council's leader Cllr Peter Fox called it “a terrible shame”.

It is understood there are still about 12 to 24 people working at Station Road in administrative jobs until the site is wound down, allowing existing orders to be completed from that site.

A consultation will last for 45 days although a start date for that has still to be confirmed.

A Welsh Government spokesman said the decision comes as a “direct result of the UK Government’s recent announcement to end onshore wind subsidies”.